27 High Street Ringwood Hampshire BH24 1BE

27 High Street
Ringwood
Hampshire
BH24 1BE

Freehold Bank Investment

  • Entirely let to HSBC Bank Plc until 2023 (no breaks)
  • Annual Rent Reviews linked to RPI rising to a minimum of £50,801.93 pa in June 2022
  • Historic Hampshire market town
  • Nearby occupiers include Sainsbury’s, WH Smith, Betfred and Lloyds Bank
  • Residential potential (subject to consents)
  • VAT-free Investment
  • Lot
    14
  • Auction
    11th July 2018
  • Rent
    £46,024 per Annum Exclusive
  • Status
    Sold
  • Price
    £600,000
  • Sector
    Bank
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On the Instructions of a Charitable Foundation
  • Expand
  • Photos
  • Map

* More information on the term "guide" can be found here

Freehold Bank Investment

  • Entirely let to HSBC Bank Plc until 2023 (no breaks)
  • Annual Rent Reviews linked to RPI rising to a minimum of £50,801.93 pa in June 2022
  • Historic Hampshire market town
  • Nearby occupiers include Sainsbury’s, WH Smith, Betfred and Lloyds Bank
  • Residential potential (subject to consents)
  • VAT-free Investment
  • Lot 14
  • Auction 11th July 2018
  • Rent
  • Status Sold
  • Price £600,000
  • Sector
    Bank
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On the Instructions of a Charitable Foundation

Property Information

Location
Miles
11 miles north-east of Bournemouth
18 miles west of Southampton
Roads
A31, A338, M27, M271
Air
Bournemouth Airport
Situation

Ringwood is a historic market town located 11 miles northeast of Bournemouth on the periphery of the New Forest National Park. The property is located in the middle of High Street, at its junction with Kings Arm Lane. Nearby occupiers include Sainsbury’s, WH Smith, Betfred and Lloyds Bank.

Tenure

Freehold.

Location
Miles
11 miles north-east of Bournemouth
18 miles west of Southampton
Roads
A31, A338, M27, M271
Air
Bournemouth Airport
Situation

Ringwood is a historic market town located 11 miles northeast of Bournemouth on the periphery of the New Forest National Park. The property is located in the middle of High Street, at its junction with Kings Arm Lane. Nearby occupiers include Sainsbury’s, WH Smith, Betfred and Lloyds Bank.

Tenure

Freehold.

Description

The property comprises a prominent three storey building arranged to provide a banking hall at ground floor level and office/ancillary accommodation on first and second floors. The property benefits from a large external store to the rear with potential for residential development (subject to consents) and parking for approximately 2 cars.

VAT

VAT is not applicable to this lot.

Viewings

There will be a single block viewing held on 06/07/2018 at 10am. If you would like to attend you must register with us in advance no later than 9am on 04/07/2018. Please register with Georgina Roberts on georgina.roberts@acuitus.co.uk - you will need to provide the full
names of all parties attending and mobile telephone numbers. Photographic ID will be required on site.

Completion Period

Six week completion available

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises a prominent three storey building arranged to provide a banking hall at ground floor level and office/ancillary accommodation on first and second floors. The property benefits from a large external store to the rear with potential for residential development (subject to consents) and parking for approximately 2 cars.

VAT

VAT is not applicable to this lot.

Viewings

There will be a single block viewing held on 06/07/2018 at 10am. If you would like to attend you must register with us in advance no later than 9am on 04/07/2018. Please register with Georgina Roberts on georgina.roberts@acuitus.co.uk - you will need to provide the full
names of all parties attending and mobile telephone numbers. Photographic ID will be required on site.

Completion Period

Six week completion available

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x. Reviews
Ground
First
Second
Ground
Banking Hall
Ancillary
Ancillary
External Store
78.74 sq m
40.3 sq m
36.3 sq m
62.10 sq m
(847 sq ft)
(433 sq ft)
(390 sq ft)
(668 sq ft)
HSBC BANK PLC (1) 15 years from
04/06/2008 until
03/06/2023 on a full
repairing and
insuring lease
£46,024.04 Annual RPI Linked uplifts
rising to a minimum of:
04/06/2019 £47,174.64 pa
04/06/2020 £48,354.00 pa
04/06/2021 £49,562.85 pa
04/06/2022 £50,801.93 pa
(2)
Total
217.44 sq m
(2,338 sq ft)     £46,024.04  

(1) For the year ending 31st December 2017, HSBC Bank plc did not report a turnover, but reported a pre-tax profit of £2.37bn, shareholders’ funds of £44.049bn and a net worth of £38.113bn (Source: Experian Group 09/05/2018). HSBC is one of the world’s largest banking and financial services organisations - further information can be found at www.hsbc.com.
(2) The lease provides annual RPI linked uplifts capped and collared to a minimum of 2.5% and maximum of 5.5%. The lease provides a tenant’s option to renew the lease for a further 15 years.
NB: Not measured by Acuitus. Areas taken from the VOA at www.gov.uk

Property Documents

  • Site Plan
    Updated Date
    18.11.19
    File Size
    2 MB
    View PDF
  • Catalogue Page
    Updated Date
    18.11.19
    File Size
    734 KB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Seller's Solicitors
Edwin Coe LLP 2 Stone Buildings, Lincoln's Inn
London
WC2A 3TH
Ian Gilmour 0207 691 4049ian.gilmour@edwincoe.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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